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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #15,961
  • Edited 12:47pm Dec 1, 2008 12:44pm | Edited 12:47pm
Quoting ghous
Hey Saskgui,

Don't want to put you down but again i have a few things to worry abt isntead of blindly going for the pin bar. Yes it is in a good enough shape and is with the overall trend BUT the location is'nt good. My most immediate concern is the confluence just below the pin bar (refer to the chart below) that of a 50% fib ratio (which is the most important fib ratio) and the 1.535 ppz.

Another thing to note is that even though you want to feel confident by going with the trend do not undermine the fact that you're going against a [b]VERY...
Ghous

The thing that bothered me was the PB itself, very small and with two holidays i wondered if it was as valid as a regular PB. I would have preferred a longer nose. I took this on demo only as i am presently not comfortable unless it is clearly with the trend. PA is king but unless you really know your ppz very well (aka rac) then I don't enjoy fighting strong momentum.

I had my fib drawn differently and it seems to line up with the s/r already there so i was quite happy with location. Was not expecting alot of pips however.
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  • #15,962
  • Dec 1, 2008 12:51pm Dec 1, 2008 12:51pm
Quoting Ryanmcd
Yep it's the Eur / Bonds / GBP have to have fun with the names lol
Right on... Short USD/CAD from 1.2355 and long GBP/USD from 1.4868, trades at BE.
  • #15,963
  • Dec 1, 2008 12:55pm Dec 1, 2008 12:55pm
Quoting bertie123
Hi Guys

Anyone take the weekly pin on the above pair? I am riding with it at the moment, +30 odd pips, and was wondering if anyone else in this has specific targets for the exit in mind?
I got involved and have 60 pips locked in. Don't personally expect it to move down a great amount. The grey area is where I expected it to stall and so far it has. Maybe it will head for the 1.5075 area but who knows?
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  • #15,964
  • Dec 1, 2008 1:00pm Dec 1, 2008 1:00pm
Quoting HipsterPipster
Right on... Short USD/CAD from 1.2355 and long GBP/USD from 1.4868, trades at BE.
I was stopped out of cad, but re-entered on the pin. looks good now and I will hold.
  • #15,965
  • Dec 1, 2008 1:29pm Dec 1, 2008 1:29pm
Hipster, I put in a limit buy long on the GBPUSD at 1.4910.

The Pin looks good, even with the strong down move from this morning.
  • #15,966
  • Dec 1, 2008 3:12pm Dec 1, 2008 3:12pm
Quoting raczekfx
another setup I'm watching.. .. (dow please move up to 8900; this will be a trigger for my e/j, g/j, g/u, e/u, n/u a/u )
Waited 5 days for this. Futures never reached that level so I had to pull triggers manually,.. exactly 17 hrs ago. Still have 3/4 of original positions...
Are we ready for a ride up...?
  • #15,967
  • Dec 1, 2008 3:35pm Dec 1, 2008 3:35pm
I kind of already got in with an initial stop of ~35. Currently at BE. Pound was initially moving the pair, but UJ is getting a little excited currently, so I may get stopped out.
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  • #15,968
  • Dec 1, 2008 4:28pm Dec 1, 2008 4:28pm
Quoting Ryanmcd
If you throw enough stuff on a forum some of it has to be right to quote right? The real question is if you are so good at trading why work 2 jobs?
Ryan after defending you in the past when you were on the receiving end of this crap yourself you're disappointing me big time here. Those that live in glass houses shouldn't throw stones. You've posted plenty of post outcome charts that could also be used as ammunition. So don't waste your time.
Bundy's status today: "Waiting..."
  • #15,969
  • Dec 1, 2008 4:43pm Dec 1, 2008 4:43pm
Quoting Ryanmcd
It's easy to post when your not fixing a broke server, or working the phones trying to sell someone a trip.
I agree bundy.

What's up with this stuff Ryan? No need for it.

I think you protest too much, methinks.
Indicators show the past. Price Action "Indicates" the future.
  • #15,970
  • Dec 1, 2008 5:29pm Dec 1, 2008 5:29pm


Quoting Ryanmcd
If you throw enough stuff on a forum some of it has to be right to quote right? The real question is if you are so good at trading why work 2 jobs?
  • #15,971
  • Dec 1, 2008 5:31pm Dec 1, 2008 5:31pm
chart
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  • #15,972
  • Dec 1, 2008 5:43pm Dec 1, 2008 5:43pm
Quoting james16
chart
What do you think of todays daily bar Jim? I have a couple of feeds, one shows it as a DBLHC and another feed shows it as an BUOB (although the open could be lower).
  • #15,973
  • Dec 1, 2008 6:55pm Dec 1, 2008 6:55pm
Quoting willf
What do you think of todays daily bar Jim? I have a couple of feeds, one shows it as a DBLHC and another feed shows it as an BUOB (although the open could be lower).
Hey Willf.....

BUOB on my feed....be nice if it was at a swing low though
  • #15,974
  • Dec 1, 2008 6:58pm Dec 1, 2008 6:58pm
Quoting Ryanmcd
If you throw enough stuff on a forum some of it has to be right to quote right? The real question is if you are so good at trading why work 2 jobs?
Multiple streams of income cant be bad, can it???
  • #15,975
  • Dec 1, 2008 7:00pm Dec 1, 2008 7:00pm
Situation here where their is clear ppz however it is somewhat of a choppy mess trend wise and there is the distinct possibility of meeting resistance as soon as the pin breaks. Good enough for 1% on my demo as i need the experience. However entry will be 1.5825... just above resistance? TP 1.60.
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  • #15,976
  • Dec 1, 2008 7:07pm Dec 1, 2008 7:07pm
So i used to be a student of Jacko. I respect his trading however i could not adapt. I came to realize that i am at heart a price action trader. I trade what i see and nothing else. That is why even though i have been around this thread a while i am not that mature in James 16 methodology.

Perhaps if i was i would have know what to do with this chart on Sunday. Obvious pennant or consolidation with a strong daily trend. It seems so obvious a day later... but so far my system is limited to obvious PA at s/r.

I know i need more tools in the box.... but what could have been a good entry here? Even moving down the TF i don't see any obvious PA to enter.
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  • #15,977
  • Dec 1, 2008 7:27pm Dec 1, 2008 7:27pm
Quoting saskgui
So i used to be a student of Jacko. I respect his trading however i could not adapt. I came to realize that i am at heart a price action trader. I trade what i see and nothing else. That is why even though i have been around this thread a while i am not that mature in James 16 methodology.

Perhaps if i was i would have know what to do with this chart on Sunday. Obvious pennant or consolidation...
No great PA bars in there unless you look at the inside bar 4 days previous. It did break out of an area though but not sure how many would have played that going so close to a support area.
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  • #15,978
  • Dec 1, 2008 8:40pm Dec 1, 2008 8:40pm
Quoting saskgui
Ghous

The thing that bothered me was the PB itself, very small and with two holidays i wondered if it was as valid as a regular PB. I would have preferred a longer nose. I took this on demo only as i am presently not comfortable unless it is clearly with the trend. PA is king but unless you really know your ppz very well (aka rac) then I don't enjoy fighting strong momentum.

I had my fib drawn differently and it seems to line up with the s/r already there so i was quite happy with location. Was not expecting alot of pips however.
Glad it worked out for you Saskgui, for me there was too much confluence to be fighting with.

Enjoy the pips!

Regards,
Ghous,
I believe . . .
  • #15,979
  • Dec 1, 2008 9:13pm Dec 1, 2008 9:13pm
chart
Quoting saskgui
Ghous

The thing that bothered me was the PB itself, very small and with two holidays i wondered if it was as valid as a regular PB. I would have preferred a longer nose. I took this on demo only as i am presently not comfortable unless it is clearly with the trend. PA is king but unless you really know your ppz very well (aka rac) then I don't enjoy fighting strong momentum.

I had my fib drawn differently and it seems to line up with the s/r already there so i was quite happy with location. Was not expecting alot of pips however.
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  • #15,980
  • Dec 1, 2008 9:29pm Dec 1, 2008 9:29pm
Quoting james16
chart
Thats good to hear, because i took this, once it broke and retraced back into previous bar, stop above pin bar. Once it had moved down again, stop to BE because it didn't have far to go, and half off at a little above TP1 (1.5200)because of some previous Low/High's and now waiting for TP2(bar close/open and 38)..
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